Federal Register / Vol. 79, No. 5 / Wednesday, January 8, 2014 / Rules and Regulations 1315 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2013–1004; Directorate 

Identifier 2013–NE–34–AD; Amendment 

39–17719; AD 2013–26–10] 

RIN 2120–AA64 

Airworthiness Directives; Rolls-Royce 

plc Turbofan Engines 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule; request for 

comments. 

SUMMARY: We are adopting a new 

airworthiness directive (AD) for all 

Rolls-Royce plc (RR) RB211–524G2–19, 

RB211–524G3–19, RB211–524H–36, and 

RB211–524H2–19 turbofan engines. 

This AD requires a one-time reduction 

in the cyclic life of certain high-pressure 

(HP) compressor rotor stage 1 and stage 

2 discs, and removal of discs that 

exceed the reduced cycle life. This AD 

was prompted by a review by RR of the 

cyclic life of life-limited parts (LLPs) for 

RB211–524 series engines. We are 

issuing this AD to prevent the failure of 

certain LLPs, which could result in 

uncontained engine damage and damage 

to the airplane. 

DATES: This AD becomes effective 

January 23, 2014. 

We must receive comments on this 

AD by February 24, 2014. 

ADDRESSES: You may send comments by 

any of the following methods: 

• Federal eRulemaking Portal: Go to 

http://www.regulations.gov and follow 

the instructions for sending your 

comments electronically. 

• Mail: U.S. Department of 

Transportation, 1200 New Jersey 

Avenue SE., West Building Ground 

Floor, Room W12–140, Washington, DC 

20590–0001. 

• Hand Delivery: Deliver to Mail 

address above between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. 

• Fax: 202–493–2251. 

Examining the AD Docket 

You may examine the AD docket on 

the Internet at http://

www.regulations.gov by searching for 

and locating Docket No. FAA–2013– 

1004; or in person at the Docket 

Operations office between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. The AD docket 

contains this AD, the mandatory 

continuing airworthiness information 

(MCAI), the regulatory evaluation, any 

comments received, and other 

information. The street address for the 

Docket Operations office (phone: 800– 

647–5527) is the same as the Mail 

address provided in the ADDRESSES

section. Comments will be available in 

the AD docket shortly after receipt. 

FOR FURTHER INFORMATION CONTACT: 

Robert Green, Aerospace Engineer, 

Engine Certification Office, FAA, Engine 

& Propeller Directorate, 12 New England 

Executive Park, Burlington, MA 01803; 

phone: 781–238–7754; fax: 781–238– 

7199; email: robert.green@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Discussion 

The European Aviation Safety Agency 

(EASA), which is the Technical Agent 

for the Member States of the European 

Community, has issued EASA 

Airworthiness Directive 2013–0246, 

dated October 10, 2013 (referred to 

herein after as ‘‘the MCAI’’), to correct 

an unsafe condition for the specified 

products. The MCAI states: 

Rolls-Royce recently reviewed the cyclic 

lives of critical parts of the RB211–524 series 

engines, which has resulted in the 

identification of a reduced cyclic life limit for 

certain high-pressure (HP) compressor Rotor 

Stage 1 and 2 Discs. 

Operation of critical parts beyond these 

reduced cyclic life limits could lead to part 

failure and consequent release of high-energy 

debris, possibly resulting in damage to the 

aeroplane and/or injury to the occupants. 

You may obtain further information by 

examining the MCAI in the AD docket 

on the Internet at http://

www.regulations.gov by searching for 

and locating it in Docket No. FAA– 

2013–1004. 

FAA’s Determination and Requirements 

of This AD 

This product has been approved by 

the aviation authority of the United 

Kingdom, and is approved for operation 

in the United States. Pursuant to our 

bilateral agreement with the European 

Community, EASA has notified us of 

the unsafe condition described in the 

MCAI and service information 

referenced above. We are issuing this 

AD because we evaluated all 

information provided by EASA and 

determined the unsafe condition exists 

and is likely to exist or develop on other 

products of the same type design. This 

AD requires a one-time reduction in the 

cyclic life of certain HP compressor 

stage 1 and stage 2 discs, and removal 

of discs that exceed the reduced cycle 

life. 

FAA’s Determination of the Effective 

Date 

No domestic operators use this 

product. Therefore, we find that notice 

and opportunity for prior public 

comment are unnecessary and that good 

cause exists for making this amendment 

effective in less than 30 days. 

Comments Invited 

This AD is a final rule that involves 

requirements affecting flight safety, and 

we did not precede it by notice and 

opportunity for public comment. We 

invite you to send any written relevant 

data, views, or arguments about this AD. 

Send your comments to an address 

listed under the ADDRESSES section. 

Include ‘‘Docket No. FAA–2013–1004; 

Directorate Identifier 2013–NE–34–AD’’ 

at the beginning of your comments. We 

specifically invite comments on the 

overall regulatory, economic, 

environmental, and energy aspects of 

this AD. We will consider all comments 

received by the closing date and may 

amend this AD because of those 

comments. 

We will post all comments we 

receive, without change, to http://

www.regulations.gov, including any 

personal information you provide. We 

will also post a report summarizing each 

substantive verbal contact with FAA 

personnel concerning this AD. Using the 

search function of the Web site, anyone 

can find and read the comments in any 

of our dockets, including, if provided, 

the name of the individual who sent the 

comment (or signed the comment on 

behalf of an association, business, labor 

union, etc.). You may review the DOT’s 

complete Privacy Act Statement in the 

Federal Register published on April 11, 

2000 (65 FR 19477–78). 

Costs of Compliance 

We estimate that this AD will affect 0 

engines installed on airplanes of U.S. 

registry. We also estimate that it will 

take about 0 hours per engine to comply 

with this AD. The average labor rate is 

$85 per hour. The prorated cost of the 

parts, adjusted for lost life, is about 

$15,940 per engine. Based on these 

figures, we estimate the total cost of this 

AD to U.S. operators is $0. 

Authority for This Rulemaking 

Title 49 of the United States Code 

specifies the FAA’s authority to issue 

rules on aviation safety. Subtitle I, 

section 106, describes the authority of 

the FAA Administrator. ‘‘Subtitle VII: 

Aviation Programs,’’ describes in more 

detail the scope of the Agency’s 

authority. 

We are issuing this rulemaking under 

the authority described in ‘‘Subtitle VII, 

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1316 Federal Register / Vol. 79, No. 5 / Wednesday, January 8, 2014 / Rules and Regulations 

1 15 U.S.C. 80a. Unless otherwise noted, all 

references to statutory sections are to the 

Investment Company Act, and all references to 

rules under the Investment Company Act are to 

Part A, Subpart III, Section 44701: 

General requirements.’’ Under that 

section, Congress charges the FAA with 

promoting safe flight of civil aircraft in 

air commerce by prescribing regulations 

for practices, methods, and procedures 

the Administrator finds necessary for 

safety in air commerce. This regulation 

is within the scope of that authority 

because it addresses an unsafe condition 

that is likely to exist or develop on 

products identified in this rulemaking 

action. 

Regulatory Findings 

We determined that this AD will not 

have federalism implications under 

Executive Order 13132. This AD will 

not have a substantial direct effect on 

the States, on the relationship between 

the national government and the States, 

or on the distribution of power and 

responsibilities among the various 

levels of government. 

For the reasons discussed above, I 

certify this AD: 

(1) Is not a ‘‘significant regulatory 

action’’ under Executive Order 12866, 

(2) Is not a ‘‘significant rule’’ under 

the DOT Regulatory Policies and 

Procedures (44 FR 11034, February 26, 

1979), 

(3) Will not affect intrastate aviation 

in Alaska to the extent that it justifies 

making a regulatory distinction, and 

(4) Will not have a significant 

economic impact, positive or negative, 

on a substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

We prepared a regulatory evaluation 

of the estimated costs to comply with 

this AD and placed it in the AD docket. 

List of Subjects in 14 CFR Part 39 

Air transportation, Aircraft, Aviation 

safety, Incorporation by reference, 

Safety. 

Adoption of the Amendment 

Accordingly, under the authority 

delegated to me by the Administrator, 

the FAA amends 14 CFR part 39 as 

follows: 

PART 39—AIRWORTHINESS 

DIRECTIVES 

■ 1. The authority citation for part 39 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40113, 44701. 

§ 39.13 [Amended] 

■ 2. The FAA amends § 39.13 by adding 

the following new airworthiness 

directive (AD): 

2013–26–10 Rolls-Royce plc: Amendment 

39–17719; Docket No. FAA–2013–1004; 

Directorate Identifier 2013–NE–34–AD. 

(a) Effective Date 

This AD is effective January 23, 2014. 

(b) Affected ADs 

None. 

(c) Applicability 

This AD applies to all Rolls-Royce plc (RR) 

RB211–524G2–19, RB211–524G3–19, 

RB211–524H–36, and RB211–524H2–19 

turbofan engines with high-pressure (HP) 

compressor rotor stage 1 and stage 2 discs, 

part number LK70608, LK76030, LK86621, 

UL19877, UL19878, UL19879, or UL24023, 

installed. 

(d) Reason 

This AD was prompted by a review by RR 

of the cyclic life of critical-life-limited parts 

(LLPs) for RB211–524 series engines. We are 

issuing this AD to prevent the failure of 

certain LLPs, which could result in 

uncontained engine damage and damage to 

the airplane. 

(e) Actions and Compliance 

Comply with this AD within the 

compliance times specified, unless already 

done. 

(1) Within 30 days after the effective date 

of this AD, reduce the cyclic life limit for the 

affected HP compressor rotor stage 1 and 

stage 2 discs to 7,390 flight cycles (FC). 

(2) After the effective date of this AD, 

remove each affected HP compressor rotor 

stage 1 and stage 2 disc from service before 

the part exceeds 7,390 FC. 

(3) After the effective date of this AD, do 

not return to service any engine that has an 

HP compressor rotor stage 1 and stage 2 disc 

installed, if the disc has more than 7,390 FC. 

(f) Alternative Methods of Compliance 

(AMOCs) 

The Manager, Engine Certification Office, 

FAA, may approve AMOCs to this AD. Use 

the procedures found in 14 CFR 39.19 to 

make your request. 

(g) Related Information 

(1) For more information about this AD, 

contact Robert Green, Aerospace Engineer, 

Engine Certification Office, FAA, Engine & 

Propeller Directorate, 12 New England 

Executive Park, Burlington, MA 01803; 

phone: 781–238–7754; fax: 781–238–7199; 

email: robert.green@faa.gov. 

(2) Refer to MCAI European Aviation 

Safety Agency AD 2013–0246, dated October 

10, 2013, for more information. You may 

examine the MCAI in the AD docket on the 

Internet at http://www.regulations.gov by 

searching for and locating it in Docket No. 

FAA–2013–1004. 

(h) Material Incorporated by Reference 

None. 

Issued in Burlington, Massachusetts, on 

December 23, 2013. 

Carlos A. Pestana, 

Acting Assistant Directorate Manager, Engine 

& Propeller Directorate, Aircraft Certification 

Service. 

[FR Doc. 2014–00083 Filed 1–7–14; 8:45 am] 

BILLING CODE 4910–13–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Parts 239, 270, and 274 

[Release Nos. 33–9506; IC–30847; File No. 

S7–7–11] 

RIN 3235–AL02 

Removal of Certain References to 

Credit Ratings Under the Investment 

Company Act 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Final rule. 

SUMMARY: The Securities and Exchange 

Commission (‘‘Commission’’) is 

adopting amendments to a rule and 

three forms under the Investment 

Company Act of 1940 (‘‘Investment 

Company Act’’) and the Securities Act 

of 1933 (‘‘Securities Act’’) in order to 

implement a provision of the DoddFrank Wall Street Reform and Consumer 

Protection Act (‘‘Dodd-Frank Act’’). 

Specifically, rule 5b–3 under the 

Investment Company Act contains a 

reference to credit ratings in 

determining when an investment 

company (‘‘fund’’) may treat a 

repurchase agreement as an acquisition 

of securities collateralizing the 

repurchase agreement for certain 

purposes under the Investment 

Company Act. The amendments we are 

adopting today replace this reference to 

credit ratings with an alternative 

standard designed to retain a similar 

degree of credit quality to that in current 

rule 5b–3. The Commission is also 

adopting amendments to Forms N–1A, 

N–2, and N–3 under the Investment 

Company Act and Securities Act to 

eliminate the required use of NRSRO 

credit ratings when a fund chooses to 

depict its portfolio holdings by credit 

quality. 

DATES: Effective Date: February 7, 2014; 

Compliance Date: July 7, 2014. 

FOR FURTHER INFORMATION CONTACT: 

Adam Bolter, Senior Counsel, Thoreau 

Bartmann, Branch Chief, or C. Hunter 

Jones, Assistant Director (202) 551– 

6792, Office of Investment Company 

Rulemaking, Division of Investment 

Management, Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC 20549–8549. 

SUPPLEMENTARY INFORMATION: The 

Commission is adopting amendments to 

rule 5b–3 [17 CFR 270.5b–3] under the 

Investment Company Act.1 The 

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